EastGroup Properties' profit jumped in the second quarter on property sale gains.

The real estate investment trust said Thursday that quarterly profit rose to $8.1 million, or 28 cents per share. That's up 44 percent from $5.6 million, or 20 cents per share, in the year-ago quarter.

Profit jumped $1.9 million after the company sold a Phoenix warehouse for $7 million in June.

Quarterly revenue rose 8 percent to $46.5 million, in line with analysts' expectations.

EastGroup says it's spending $44.6 million to build a total of eight new warehouses in Houston, San Antonio and Orlando, Fla. It said it spent $6.6 million on land for future development near Houston and in Denver.